Corporate corner: UBL and PMIC sign deal

Published: October 13, 2017
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A businessman rides an escalator at a banking district. PHOTO: REUTERS

A businessman rides an escalator at a banking district. PHOTO: REUTERS

KARACHI: United Bank Limited (UBL) and Pakistan Microfinance Investment Company (PMIC) recently signed a MoU to digitise microfinance operations across the country.

PMIC Chairman Zubyr Soomro and UBL President & CEO Sima Kamil represented their organisations along with other senior officials. The MoU identifies areas of collaboration between the two institutions whereby as the apex institution and sector developer, PMIC will link eight of its partner microfinance institutions with UBL Omni, one of the leading branchless banking service providers.

UBL inaugurates Pakistan’s first digital branch

Speaking on the occasion, Kamil said, “Digitisation of financial services will go a long way in bringing the most underprivileged segments of the society to mainstream financial services.”

PMIC CEO Yasir Ashfaq said, “We, through our partner institutions, aim to create greater social impact through our financing aimed at the unbanked segments of the society.”

Published in The Express Tribune, October 13th, 2017.

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